Looks like it's a brand new houseThanksHigher resolution pics:http://claspics.com/657/564750/1289590078-930.jpg.php?

Even if the house was built very similarly to what was there before it would have a greater value because the home would be essentially brand new with no depreciation.

I will see a 18,000sq ft retail strip center brand new off the corner with just the shell.

You can have branded email (ie. gmail can actually take care of my [email protected] address so it doesn't go thru the server at XXX.com ) and from what I understand, people do suffer MUCH less downtime using google in this manner, than their own server.

Finally, yes, slappin on brand new, energy efficient windows will be a great selling point specially if the houses in the neighborhood have older (aluminum, wood) windows.

These customers are narrowed to a particular brand and model.

I'm brand new to all of this but I'm very, very motivated to get out of the corporate grasp asap.

Property Description:2 building 9 unit apartment complex located in a downtown area of a Midwest city with inter-state, water, and rail transportation systems in place.The building is about 40 years old, but has been maintained very well.Building is 11750 Square footThe lot size is 16350 square footNew roofUpdated interiorhard wood floors, crown molding, and French doors.Units: 5 3 br, 3 2 br, and 1 1 brGross annual rent $55620, 1 3 br is vacant, rent would be $750 per month.Asking price $400,000.00Seller agent claims NOI is $43200 per year, with taking in to account the one vacant unitSo, if NOI is correct, the cap rate would be10.8.Using the 50% rule the cap rate would be 6.95.Assuming the complex was full, the cap rate, 8.08.Not sure who pays the utilities, I am still waiting for the seller's agent to send me more info.Cash flow:Gross rent $55620.00 with current vacancy.Expenses 50% rule $27810.00Per unit $257.50 per monthNOI $27810.00Seller is willing to finance 80% at 7.5% over 30 years with a balloon payment in 5.P&I $26849.88Leaves $960.12Or $8.89 per unit per monthNow, I am just getting started, so I have exactly no cash to put in to a deal, unfortunately.Assuming similar terms for a loan for a 20% down payment, but with a 9% interest, that would be a payment of$643.70Per unit $71.52Net cash per unit of $-62.63At the asking price of $400K, I think this property is over priced.

There is actually an offer for 1.4M of that if I complete one of the buildings and give it over to their brand.

depending on how the risk falls, you can placed in different brands... just like Chevy, Ford, Dodge.